Orlando Hotel Occupancy Continues to Decrease
The Orlando area’s hotel occupancy rate has decreased another 6.7% from a year ago despite providing deep discounts. Orlando’s hotels filled 57.5% of their rooms, according to a report by Smith Travel Research, and the decline occurred despite heavy cuts in prices.
The average daily rate fell 14.6% to $91.36. Revenue per available room, a key industry measure fell 20.3% in October. The hardest hit area was International Drive, where the Hilton Orlando opened in September adding 1,400 rooms. Occupancy in the International Drive area fell 9.2% in October despite price cuts of more than 18%
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Tags: Domestic Timeshares, Orlando Timeshares, Timeshare Industry news
